Posted on 01/18/2023 12:25:09 PM PST by suthener
MOBILE, Ala. (WKRG) — When Austal USA was not selected in April 2020 by the Pentagon to build a frigate for the U.S. Navy, many worried about the future of Mobile’s largest industrial employer.
Craig Hooper, Senior Contributor at Forbes called the moment an “existential catastrophe” for the Mobile shipyard.
(Excerpt) Read more at wkrg.com ...
"The company used a $50 million military grant under the CARES Act to construct a state-of-the-art steel panel line."
Austal has gotten millions and millions of dollars of grants from the U.S. government. I worked in a U.S. owned shipyard in Mobile that went bankrupt. We did not get millions in government grants. Austal actually eventually bought the shipyard I worked at with grants in a "partnership" from the U.S. government.
I know a lot of folks who work at Austal. I hope they fair well.
“I know a lot of folks who work at Austal. I hope they fair well.”
Sounds like they’re going to be okay for at least a while.
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